Latest news with #BTDR
Yahoo
20 hours ago
- Business
- Yahoo
Bitdeer Q2 revenue rises 121% from Q1, net loss widens to $147.7 million
Bitdeer (BTDR) reported Q2 revenue of $155.6 million, up 56.8% year-over-year and 121.9% since Q1, driven by strong self-mining performance and $69.5 million in external SEALMINER A2 sales. Cost of revenue more than doubled to $142.8 million from $74.8 million a year earlier, reflecting higher depreciation for new rigs and increased expenses on SEALMINER production, which compressed gross profit to $12.8 million versus $24.4 million in Q2 2024. Enjoying the read? Get our newsletter directly to your inbox on all things Bitcoin-equities by clicking here. The company recorded a net loss of $147.7 million, compared with a $17.7 million loss in Q2 2024, as non-cash fair-value adjustments on convertible notes and warrants added $108.5 million to other net loss. Adjusted EBITDA fell to $17.3 million from $23.5 million in the prior-year period. Bitdeer's total hash rate under management rose to 30.6 EH/s from 22.3 EH/s, with proprietary capacity at 16.7 EH/s and self-mining hashrate at 16.5 EH/s—up 126% year-over-year—putting the company on track to surpass its 40 EH/s target by year-end. On the balance sheet, cash and cash equivalents totaled $299.8 million, while the crypto asset balance stood at $169.3 million as of June 30. Year-to-date capital expenditures energized 361 MW of datacenter capacity, bringing available power to approximately 1.3 GW, with over 1.6 GW expected by December. Looking ahead, Bitdeer said wafer supply improvements should enable it to exceed the 40 EH/s self-mining goal, and it has entered advanced negotiations with a development partner on its Clarington, Ohio site for future HPC and AI hosting time of publication, BTDR is up 1.6% during pre-market hours. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Bitdeer July self-mining hashrate climbs 35% to 22.3 EH/s, mined 282 Bitcoin
Bitdeer (BTDR) reported 282 bitcoin mined in July, a 39% increase from June, as continued SEALMINER deployments lifted self-mining hashrate 35% to 22.3 EH/s. Total hashrate under management reached 36.4 EH/s, including 13.9 EH/s from hosting customers. Management reiterated its goal of reaching 40 EH/s of self-mining capacity by the end of October. Bitdeer held 1,667 bitcoin at month-end. The company energized a 100 MW hydro-cooling conversion at its Rockdale, Texas facility and brought online a combined 159 MW at Tydal, Norway and Jigmeling, Bhutan, bringing total available capacity to 1,257 MW. In Massillon, Ohio, initial energization is now targeted for the end of October, with the full timeline pushed to late Q1 2026. Enjoying the read? Get our newsletter directly to your inbox on all things Bitcoin-equities by clicking here. Bitdeer's manufacturing arm had produced 21.2 EH/s of SEALMINER A2 rigs by the end of July, with 10.2 EH/s deployed for self-mining, 5.9 EH/s shipped to customers, 4.8 EH/s in transit, and 0.3 EH/s preparing to ship. The SEALMINER A3 is scheduled to launch in September, and the next-generation SEAL04 chip (A4) is targeting efficiency of about 5 J/TH. The company also reported near-full utilization of its NVIDIA DGX SuperPOD GPU cloud services, with deployment of NVL72 GB200 units on track for Q3 and GB300 systems under evaluation. Read More: Cango sees 45% surge in July bitcoin production, hashrate expands to 50 EH/s IREN mines 728 Bitcoin in July, reports $65.6 million in profit At time of publication, BTDR is up 1% from yesterday's close. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-07-2025
- Business
- Yahoo
Bitdeer (BTDR) Soars 15.7%, Tracks Bitcoin Rally to $110K
Bitdeer Technologies Group (NASDAQ:BTDR) is one of the . Bitdeer Technologies soared by 15.75 percent on Wednesday to close at $13.08 apiece, tracking the rally of Bitcoin prices as it retests the $110,000 level. During the session, Bitdeer Technologies Group (NASDAQ:BTDR) rallied alongside its Bitcoin mining peers after the cryptocurrency traded higher to hit a new three-week high, with investors growing more optimistic about the widening adoption of digital assets. A construction team in a mining datacenter building work site with plans and equipment in hand. Additionally, investors took heart from its fast-growing AI cloud platform Bitdeer AI, with the company planning to evolve its platform into a next-generation cloud service that combines AI-driven automation with adaptive infrastructure. 'It aims to build a truly intelligent cloud—one that anticipates developer needs, automates repetitive tasks, and delivers consistent performance at scale. These enhancements will further lower the barriers to entry for organizations seeking to deploy AI solutions while ensuring robust security and compliance controls,' Bitdeer Technologies Group (NASDAQ:BTDR) said. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-06-2025
- Business
- Yahoo
Bitdeer Raises $330M Via Convertible Note Sale
Bitcoin miner and ASIC manufacturer Bitdeer Technologies (BTDR) has completed a $330 million private placement of convertible senior notes maturing July 1, 2031. The notes bear interest at 4.875% and feature a conversion price of $15.87 per share — about 44% above BTDR's current $11 trading price. The bond's conversion rate of 62.9921 Class A shares per $1,000 principal means full conversion could yield roughly 20.8 million new shares. To cover this, Bitdeer prepaid Barclays $129.6 million for a call option with a zero strike price on over 10.2 million shares, or 49% of the conversion total. The option allows Bitdeer to settle conversions using shares from Barclays' inventory rather than tying up its own stock. Bitdeer, is using roughly $129.6 million of the proceeds to fund the zero-strike call option, $36.1 million to pay the cash consideration for its concurrent note exchange transactions, and the remaining funds for datacenter expansion, the development of its ASIC manufacturing and working capital. The company is currently working on new ASIC chip designs that could potentially make its mining rigs substantially more efficient than current models. Shares are marginally lower in Wednesday trade. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
Bitdeer (BTDR) Falls 11% W/W on Drop in Bitcoin Prices
Bitdeer Technologies Group (NASDAQ:BTDR) is one of the . Bitdeer Technologies slashed its share prices by 11 percent in just a week's trading, from $12.68 on June 13 to $11.28 last Friday, tracking the week-on-week drop in Bitcoin prices. On Friday, prices of Bitcoin declined by 2.62 percent to $103,309.6 from $106,090.97 on June 13, as trading sentiment was largely dampened by the ongoing geopolitical tensions between Israel and Iran. Additionally, investors appeared to have soured on Bitdeer Technologies Group's (NASDAQ:BTDR) plans to raise $330 million through a debt issuance. In a statement last week, Bitdeer Technologies Group (NASDAQ:BTDR) said that it plans to issue convertible senior notes to qualified institutional investors until Monday, June 23. The notes carry a yield rate of 4.875 percent to be paid semiannually on January 1 and July 1 until 2031, unless earlier converted, redeemed, or repurchased. A construction team in a mining datacenter building work site with plans and equipment in hand. According to Bitdeer Technologies Group (NASDAQ:BTDR), proceeds from the offer will be used for the payment of its zero-strike call option with an investor's affiliate, concurrent note exchange transactions, as well as data center expansion, ASIC-based mining rig development, and other general corporate purposes. While we acknowledge the potential of BTDR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
